A guide to Singapore’s Build To Order renovation costs in 2024, and more stories

For PropertyGuru’s real estate news roundup, Build To Order (BTO) renovation costs in Singapore have increased over the years, so here’s a useful guide to ensure your renovations fall within your budget. In other headlines, India’s Regional Ring Road Hyderabad will be one of India’s largest ring road projects that will invite opportunities for industrial growth and more real estate projects. Lastly, here are several Australian suburbs that are relatively close to CBDs, where houses are competitively priced.

BTO renovation cost in Singapore in 2024 (and 6 top tips to lower it!)

Renovation costs in Singapore have increased over the years, and Build To Order (BTO) renovation costs are no different. If you’re reading this article, congratulations are in order, first, for collecting the keys to your long-awaited BTO flat. The next order of business is to renovate and furnish your home to suit your every whim and fancy.

In the Feb 2024 BTO launch, the wait time for five of the seven BTO projects was less than 3.5 years. Still, this is a marked improvement from the wait time of four to five years during the COVID-19 pandemic.

For those who have already collected the keys to your new BTO home, check out PropertyGuru Singapore’s useful guide to help you budget for your dream HDB renovations.

Hyderabad Regional Ring Road in India to boost connectivity, drive real estate growth

To enhance connectivity between several districts in the state of Telangana, the construction of the Regional Ring Road Hyderabad (RRR Hyderabad) was planned. It will be one of India’s largest ring road projects and will be developed under phase 1 of the prestigious Bharatmala Pariyojana project, at an approximate cost of Rs 17,000 crore.

The state government plans to lay the foundation for the Hyderabad Regional Ring project in October 2024. It is also expected to start work on expanding the Hyderabad-Vijayawada Highway in December.

According to Housing.com, one of the key benefits of the Ring Road project in Hyderabad is the enhanced connectivity across different parts of the city. It will reduce congestion of arterial roads and highways, enabling faster commuting for the people. The RRR will provide an alternative route for commuters, allowing them to bypass the city centre, benefitting those who travelling to the suburbs for work.

Once completed, the RRR project will invite opportunities for industrial growth. Moreover, the localities that the Regional Ring Road will cover, are likely to attract realty players and a growth in the number of gated community projects is envisaged.

The 35 suburbs with the cheapest family homes within 25kms of a capital city in Australia

New data from PropTrack’s August Home Price Index revealed that house prices rose by 0.3 percent over the month, marking 20 consecutive months of growth. In the past 12 months, prices have increased by 6.4 percent.

Price growth in capital cities continues to outpace regional areas, a trend that has persisted for the past year and is predominantly driven by house prices. Houses in the capitals typically cost 6.8 percent more, while houses in the regions cost 5.4% more than in August 2023.

This reflects the strong demand from buyers for houses in metropolitan areas.

With increasing competition among those looking to buy, securing affordable property in Australia’s cities is becoming more difficult. However, there are still several suburbs that are relatively close to CBDs where houses are competitively priced.

PropTrack examines these locations, which are within the second closest third to their respective CBDs, with the cheapest three and four-bedroom houses.

The Property Report editors wrote this article. For more information, email: [email protected].